Grand Toys International Raises $500,000 in Private Placement

Apr 16, 2001, 01:00 ET from Grand Toys International, Inc.

    MONTREAL, April 16 /PRNewswire/ --
 Grand Toys International, Inc. (Nasdaq: GRIN) today announced it had raised
 $500,000 from a private sale of its securities to insiders of Grand Toys and
 affiliates of such insiders.  The offering consisted of 1,429,000 units at a
 price of U$0.35 per unit.  Each unit consists of one Common share and one
 Common Share Purchase Warrant.  The warrants have a term of three years and
 are exercisable at a price of U$ 0.53 per share.
     The capital infusion will be used for general corporate purposes and to
 fund the development of Grand's proprietary properties.  No commissions or
 finders' fees are payable in connection with the private placement.
 
     Founded in 1960, Grand Toys International, Inc. is a premier licensee and
 distributor of a wide variety of toys and ancillary items in Canada and since
 January 1999, a supplier of proprietary products in the United States.
 
     This news release contains certain forward-looking statements and
 potential benefits from the Company's acquisition strategy, which are within
 the meaning of the Private Securities Litigation Reform Act of 1995, and are
 subject to risk and uncertainties that could cause actual results to differ
 materially.  Such risks and uncertainties include, but are not limited to,
 those related to business conditions and the financial strength of the retail
 industry, particularly for toy and toy-related products; the level of consumer
 spending for such products; the effect of currency translations; the ability
 of the Company to successfully obtain its products from suppliers; and the
 success of advertising, marketing and promotional campaigns.
 
 

SOURCE Grand Toys International, Inc.
    MONTREAL, April 16 /PRNewswire/ --
 Grand Toys International, Inc. (Nasdaq: GRIN) today announced it had raised
 $500,000 from a private sale of its securities to insiders of Grand Toys and
 affiliates of such insiders.  The offering consisted of 1,429,000 units at a
 price of U$0.35 per unit.  Each unit consists of one Common share and one
 Common Share Purchase Warrant.  The warrants have a term of three years and
 are exercisable at a price of U$ 0.53 per share.
     The capital infusion will be used for general corporate purposes and to
 fund the development of Grand's proprietary properties.  No commissions or
 finders' fees are payable in connection with the private placement.
 
     Founded in 1960, Grand Toys International, Inc. is a premier licensee and
 distributor of a wide variety of toys and ancillary items in Canada and since
 January 1999, a supplier of proprietary products in the United States.
 
     This news release contains certain forward-looking statements and
 potential benefits from the Company's acquisition strategy, which are within
 the meaning of the Private Securities Litigation Reform Act of 1995, and are
 subject to risk and uncertainties that could cause actual results to differ
 materially.  Such risks and uncertainties include, but are not limited to,
 those related to business conditions and the financial strength of the retail
 industry, particularly for toy and toy-related products; the level of consumer
 spending for such products; the effect of currency translations; the ability
 of the Company to successfully obtain its products from suppliers; and the
 success of advertising, marketing and promotional campaigns.
 
 SOURCE  Grand Toys International, Inc.